State Life Better Life Three Payment Plan

This is the modified form of endowment assurance and is called “Three Payment Plan.” The plan offers three payments throughout term of the policy. the plan offers survival benefits equal to 25% of sum assured on completion of 1/3rd and 2/3rd term of the policy, it gives you the opportunity to earn guaranteed bonuses and guaranteed payouts on your savings.

Description	State Life Better Life Three Payment Plan
Plan Type	Bonus Based
Minimum/Maximum Age at Entry	20-57
Maximum Age at Maturity	Minimum 18 years, Maximum 30 years
Minimum Annual Premium	15000 annually, Half yearly 10,000, Quaterly 7,500, Monthly 4,000
Death Benefit	Guaranteed sum assured is payable equal to 25% of sum assured on completion of 1/3rd and 2/3rd of bonuses and remaining 50% will be paid at the end of the specified term
Partial Withdrawal	Allowed any time after completion of two (2) years, subject to a minimum of PKR 15,000 remaining in the fund
Policy Surrender Option	Allowed, after two annual premiums are received
Maturity Benefit	50% balance of Sum Assured & Accrued Bonuses
Riders	Family Income Benefit
	Accidental Death Benefit
	Accidental Death & Indemnity Benefit
	Term Insurance, Waiver of Premium
	Waiver of Premium
	Term Insurance
	Refund of Premium
Applicable Charges	Max PKR 100 per policy
Description	State Life Better Life Three Payment Plan
Loan Facility	After Completion of 2 policy holder can avail a maximum loan of 80% of the net surrender value of the policy
Investment Fund	Government Securities, Real Estate rentals, Blue Chip Equities